[Featured Stock] WTI Crude Oil ETN Surges Amid Soaring Crude Oil Prices... Consecutive Record Highs

As crude oil prices surged to their highest level in three months, related exchange-traded notes (ETNs) also showed strong performance.

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As of 9:21 a.m. on the 13th, Samsung Bloomberg WTI Crude Oil Futures ETN was trading at 12,410 won, up 685 won (5.84%) from the previous trading day. This is the highest price in one year. KTB Bloomberg WTI Crude Oil Futures ETN rose 5.81%, and Shinhan WTI Crude Oil Futures ETN (H) increased by 5.05%. Both also hit 52-week highs.

According to major foreign media, the United States is preparing the most severe sanctions ever against Russia's oil industry. Targets include Russian oil companies such as Gazprom Neft. The U.S. Treasury and State Departments issued a statement saying, "This broad and powerful measure will limit Russia's ability to generate revenue from energy resources and weaken Vladimir Putin's capacity to finance the illegal war against Ukraine." As of 2023, Russia ranks second in the world with a daily crude oil production of 10 million barrels.

Following this news, international oil prices have been volatile. On the 10th (local time) at the New York Mercantile Exchange, February delivery West Texas Intermediate (WTI) crude oil closed at $76.57 per barrel, up $2.61 (3.53%) from the previous session. This marks the third consecutive week of gains and the highest price in the past three months.

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